US Department of Justice Leads Crackdown on 280 Crypto Accounts Tied to North Korea

US Department of Justice Leads Crackdown on 280 Crypto Accounts Tied to North Korea

280 crypto accounts will be seized by the United States Department of Justice in the attempt to confiscate millions of US dollars worth of stolen crypto coins, all connected in some way to North Korean hackers.

The official statement released by the DOJ has not clarified what kind of crypto accounts these are, nor where in the virtual space they exist.

The statement did say that these unknown hackers have been endeavouring to launder million of dollars in stolen funds. This money is directly linked to Chinese OTC (over the counter) trading platforms.

Brian C. Rabbitt the acting assistant attorney general of the Department’s Criminal Division made things clear in the following statement,

today’s action publicly exposes the ongoing connections between North Korea’s cyber-hacking program and a Chinese cryptocurrency money laundering network.”

Michael R. Sherwin, the acting US Attorney, revealed that we have to see this seizure as a way of the US’s “commitment to safeguard national security“.

The FBI is involved in the case, as well as the US Immigration and Customs Enforcement. Both agencies aided in the seizure of these accounts.

These types of ordeal act as proving points that the United States are taking North Korean Cyber crimes very seriously.
In the past, North Korean hackers have been identified as the culprits of other related cyber crimes, many of which are said to be done for the sole purpose of funding the country’s military, among other crucial operations.

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